Market Basket is a privately held, family-owned business that operates supermarkets throughout New England. The company was founded in 1917 by Greek immigrant Athanasios “Arthur” Demoulas and it has remained under the ownership of Arthur’s descendants ever since. In 2014, two factions of the family were embroiled in a legal dispute over control of Market Basket, with one side headed by Arthur T. Demoulas and the other led by his cousin Arthur S. Demoulas.
After months of negotiations and protests from both sides, an agreement was eventually reached to allow for equal ownership between them both so neither would gain outright control over the company’s operations. Today, Market Basket is jointly owned by both Arthurs’ families through their respective trusts which hold 50% each stake in the company’s shares.
Market Basket is a New England based grocery chain that has been owned and operated by the Demoulas family since its inception in 1916. In recent years, the ownership of Market Basket has been called into question due to a feud between two branches of the Demoulas family. After years of legal battles, it was decided that Arthur T. Demoulas would remain as CEO and majority shareholder with 50.5% control over Market Basket’s assets while his cousin, Arthur S. Demoulas, owns the remaining 49.5%.
This split ownership agreement ensures that both sides of the family are able to benefit from Market Basket’s success without further conflict arising between them or their employees.
Food Fight: Inside The Battle For Market Basket 🌍 Full Exclusive Documentary 🌍 English HD 2021
Who Owns Market Basket in Massachusetts
Market Basket is a grocery chain in Massachusetts that is owned by the Demoulas family. The company was founded by Greek immigrants, Athanasios and Efrosine Demoulas, in 1917 who opened the first store in Lowell, MA. The current owners are two cousins – Arthur T. Demoulas and his cousin Arthur S. Demoulas – both of whom have been involved with Market Basket for years as executives prior to taking over ownership from their fathers in 1990.
Who Owns the Market Basket Franchise?
Market Basket is a grocery store chain based in Massachusetts and New Hampshire. Founded in 1916 by Greek immigrants Athanasios and Efrosini Demoulas, the business was passed down to their sons, Telemachus (“Mike”) and George. After Mike’s death in 1971, his son Arthur S. Demoulas took over the company while George’s side of the family held onto a minority share.
In 2014, after years of legal disputes between Arthur S.’s family and George’s side of the family, Arthur S.’s ownership was restored when he bought out his cousin for $1.5 billion dollars—making him sole owner of Market Basket.
Who is the Current Ceo of Market Basket?
The current CEO of Market Basket is Arthur T. Demoulas, who has been at the helm for more than 20 years as one of the most successful grocery store chains in the United States. Mr. Demoulas was born and raised in Lowell, Massachusetts and has worked his way up from a bagger to being named president and chief executive officer (CEO) of Market Basket in 2008. During his tenure, he helped expand Market Basket’s presence throughout New England with nearly 75 stores across five states.
He also made sure that customers got quality products with competitive prices while employees received fair wages and benefits packages. After a dispute over ownership between Arthur T’s side of the family and another branch led to a tumultuous period involving boycotts, protests, worker walkouts and rallies by loyal customers who supported him—he was eventually reinstated as CEO in August 2014 after months of negotiations between both sides! Today, he continues to lead Market Basket into new heights as it remains one of America’s favorite supermarkets.
Has Market Basket Been Bought Out?
Market Basket, once a beloved family-owned grocery chain in the Northeast United States, has been through quite an upheaval in recent years. In 2014, two feuding factions of the Demoulas family locked horns over control of the company. When it looked like one side was about to take full control and oust most of its leadership team, employees and customers rallied around CEO Arthur T. Demoulas and staged protests that ultimately prevented his ouster.
After months of tense negotiations between the two sides, an agreement was reached in August 2014 when shareholders voted to sell half ownership in Market Basket to Arthur T. Demoulas’s side for $1.5 billion dollars – effectively buying out rival faction led by cousin Arthur S. Demoulas and ending their battle over leadership at Market Basket once and for all. Subsequently both Arthurs stepped down from their positions as co-CEOs but remain on board as key advisors while new management took over operations at Market Basket stores throughout New England under CEO Felicia Thornton who was appointed shortly after the buyout went through..
Is Market Basket Still Owned by the Demoulas Family?
Yes, Market Basket is still owned by the Demoulas family. The popular grocery chain has been in the same family since its founding almost 100 years ago. Arthur T. Demoulas and his brother George opened the first store in Lowell, Massachusetts back in 1917.
Since then, it has grown to become one of New England’s top regional supermarket chains with nearly 80 stores across four states – Maine, New Hampshire, Massachusetts and Rhode Island. As of 2021, Market Basket is owned by two members from the third generation of the Demoulas family – Arthur S. Demoulas and his sister-in-law Diana L. Merriam who control about 50% each of shares in DeMoulas Supermarkets Inc., which owns Market Basket’s parent company – DeMoulas/Market Basket Corporation (DMB).
Conclusion
The Market Basket saga is a truly remarkable story. It’s the story of how a family-owned business with humble origins has grown to become one of the largest and most successful supermarket chains in America. It’s also an inspiring example of how, even when facing seemingly insurmountable odds, hard work, loyalty, and dedication can result in success on any scale.
The company continues to thrive due to its commitment to its customers and employees alike. With such an impressive track record and unwavering dedication for success, it is clear that the Market Basket indeed belongs wholly to Arthur T Demoulas and his loyal team of supporters.
